09 Aug 2023

KGK Realty (India) Limited and Dhoot Infrastructure Projects Limited have taken control of the Sare Gurugram Group housing project after the National Company Law Tribunal's approval of the resolution plan. This development is a relief for over 1200 homebuyers awaiting possession of their apartments. The 47-acre project, facing financial challenges, entered the Corporate Insolvency Resolution Process in 2021, delaying delivery from 3 to 8 years. The consortium acted as a development manager during the process, focusing on fulfilling buyers' dreams. With an initial investment of Rs 140 crore, the consortium aims to complete the project in 18 months. The move not only delivers homes but also underscores their commitment to buyers' aspirations.Read more

05 Aug 2023

NCR-based Royal Green Realty has introduced the 'Courtyard 37D' project, an Shop-cum-Office (SCO) venture located in Gurugram's promising Sector 37D. Spanning 3.63 acres, the initiative offers exclusive built-up plots and the flexibility to develop up to 4 floors along with a basement. With investment slated to exceed Rs 60 crore through internal funds, the project is set for completion by 2025, strategically positioned near Dwarka Expressway.Read more

04 Aug 2023

In a significant ruling, the Gurugram forum ordered VP Spaces, a real estate developer, to refund a buyer and prohibited the imposition of penalties for alleged default in the purchase agreement. The forum asserted that penalties can only be levied when explicitly permitted, safeguarding buyer interests and promoting fairness. The decision sets a precedent for transparent and consumer-friendly practices in the real estate sector, emphasizing the need for due diligence by buyers before entering into property agreements.Read more

04 Aug 2023

Experion Capital, a Singapore-based NBFC with a focus on real estate, invests Rs 200 crore in Vatika Group's Sovereign Park project in Gurugram. This luxury residential masterpiece spans 1 million square feet and enjoys a strategic location along the Dwarka Expressway. The move signifies Experion Capital's confidence in India's real estate potential and reflects a growing international interest in the market. With expertise from Singapore's Experion Holdings, Experion Capital aims to redefine luxury living and contribute significantly to India's real estate landscape.Read more

26 Jul 2023

The Department of Town and Country Planning (DTCP) in Gurugram is taking strict action against illegal buildings and constructions. Recently, a farmhouse colony being illegally developed near Sultanpur National Park was dismantled as part of DTCP's initiative to crack down on illegal constructions. The authorities aim to discourage people from investing in illegal projects and promote legal and authorized developments. Policemen are present at the demolition sites to ensure a smooth operation, and an appeal has been made to raise awareness among the public about the consequences of investing in illegal colonies.Read more

20 Jul 2023

In a display of frustration, residents of Gurugram's Sushant Lok and Sector 40 took to the streets, armed with banners and slogans. Convening at Rajpath Marg, the protesters united to form a human chain. They embarked on a march towards the Millennium City metro station, making their demands known. The protest had an immediate impact, causing disruptions to the flow of traffic in the area. This demonstration was held to draw attention to their concerns and advocate for change in the face of neglected upkeep.Read more

17 Jul 2023

The Municipal Corporation of Gurgaon (MCG) has instructed its engineering wing to conduct a thorough survey of properties in Zone 3 after reports of developers and property owners using potable water for construction purposes surfaced. Residents have complained about the inconvenience caused by builders using potable water for construction, leading to reduced water pressure and inadequate supply for the community. The MCG recognizes the severity of the problem and plans to take strong action against those found using potable water for construction.Read more

13 Jul 2023

In Gurugram's BPTP Astaire Gardens, approximately 30 residents found their power supply abruptly cut off on Friday morning without any prior notice. The residents are blaming the maintenance agency for harassment. In response, Deputy Commissioner Nishant Yadav has initiated a three-member inquiry committee. Meanwhile, BPTP group refutes these allegations, attributing the disconnections to unpaid electricity bills. DHBVN officials affirm the power disruption was due to internal maintenance and the matter is between the agency and the residents. The investigation continues.Read more

11 Jul 2023

Experion Developers has launched 10 exclusive 6 BHK duplex villaments at Windchants, its upscale project in Gurugram. Spread across 23.48 acres with only 563 units, Windchants redefines exclusivity and privacy. The luxury housing project offers a variety of amenities including an open-air Jacuzzi and Asia's longest residential skywalk. Influenced by the celestial Saptarishi constellation, Windchants is designed to maximize the benefits of natural light and air flow. The calculated positioning of towers within the complex enhances a serene and luxurious living atmosphere.Read more

11 Jul 2023

The introduction of Lykli, a new brand from Ingka Centres, a major operator in commercial real estate, has been announced. Lykli seeks to transform the retail sector by developing cutting-edge gathering spaces. The first Lykli meeting place, which will be anchored by IKEA and will open in late 2025 in Gurugram, New Delhi, will have a vibrant mix of restaurants, entertainment, top-rate office space, national and international retail brands, and areas for hosting community activities. Lykli Gurugram wants to create a sense of neighbourhood while giving people's health top priority, and leading the way in environmentally friendly mixed-use developments.Read more

08 Jul 2023

Hero Realty Pvt. Ltd. has introduced its new brand, 'Hero Earth,' dedicated to delivering premium plotted development projects. The company has launched its flagship project, 'The Ark,' located in Gurugram's Sector 85. 'The Ark' offers meticulously designed plots with essential amenities, strategic location advantages, and a commitment to quality living. Hero Realty aims to establish itself as a prominent player in the plotted development market with 'Hero Earth' and 'The Ark' project.Read more

06 Jul 2023

The Municipal Corporation of Gurugram (MCG) has imposed a fine of Rs 1.1 crore on the developer of Platinum Tower for illegally dumping 12,881 metric tonnes of construction waste on the master stormwater drain in the greenbelt area. The MCG will also recover Rs 92 lakh for debris removal and disposal, along with a penalty of over Rs 18 lakh. The action was taken following the discovery of a blocked drain causing waterlogging. The developer has refused to comment. The MCG's strict actions aim to deter illegal dumping and ensure proper waste disposal in Gurugram.Read more

06 Jul 2023

According to the association, a significant number of buyers, specifically 471, who had invested in SARE Homes, have been unable to secure their flats. This predicament arose due to the alleged failure of KGK-Dhoot and Interim Resolution Professional (IRP) to adequately inform them about the necessary filing procedures. As a result, these buyers were not equipped with the knowledge required to claim their properties. The association expressed its concern regarding this issue, emphasizing that the affected individuals were left uninformed and unable to exercise their rights as purchasers.Read more

05 Jul 2023

Conscient Infrastructure has acquired 6.6-acre land in Gurugram for approximately Rs 85 crore to develop a housing project, leveraging the bullish market. Real estate consultancy Cushman & Wakefield facilitated the deal. The land parcel has a development potential of over one million square feet. With this strategic move, Conscient Infrastructure capitalizes on the demand surge for residential properties, solidifying its position as a leading developer in Gurugram. The company's partnership with Hines to establish the 'Elevate Homes' platform further demonstrates its commitment to shaping the future of real estate in Delhi-NCR.Read more

04 Jul 2023

Out of the total 60 eligible colonies, the district administration has forwarded a list comprising 11 colonies to the state government, while active efforts are currently underway to address the issues in the remaining 49 colonies. The administration has been diligently working to assess the status of these colonies and take necessary measures to regularize their status. By engaging in this ongoing process, they aim to grant legal recognition and provide essential services to these unauthorized settlements in Gurugram. The authorities remain committed to resolving the administrative and infrastructural challenges in these colonies.Read more

03 Jul 2023

Mahira Homes faces legal action as the Department of Town and Country Planning (DTCP) in Gurugram orders a formal investigation into alleged forgery of documents. The city-based property developer, its subsidiaries, and associates are under scrutiny for submitting counterfeit plans to authorities. Despite previous blacklisting for similar fraudulent activities, the developer has reportedly not altered its practices. As a result, the DTCP has suspended Mahira Homes' licenses for a specific project and issued a show-cause notice, risking further punitive measures.Read more

28 Jun 2023

The Department of Town and Country Planning (DTCP) has directed Chintels India, the developer of Chintels Paradiso society in Sector 109, to conduct another structural audit of tower A within 30 days. This decision comes after a recent report by IIT-Delhi highlighted signs of deterioration in the tower. The audit aims to assess the extent of corrosion and recommend rehabilitation measures to ensure resident safety. Chintels India must submit a compliance report and execute the recommendations outlined in the audit. Failure to comply may lead to legal action against the developer.Read more

28 Jun 2023

The directors and senior officials of Delhi-based Ansal Housing are facing a police inquiry for alleged investor fraud. Ansal's commercial project "Ansal Hub" in Sector 83, launched in 2010, is yet to be delivered despite investors paying up to 95% of the total amount by 2015. The police registered an FIR against 12 individuals from Ansal, including its directors and key sales team members, for criminal conspiracy, breach of trust, and cheating. This case emphasizes the need for more robust regulations and transparency in the real estate industry.Read more

28 Jun 2023

Investors in Gurugram are up in arms against Ninaniya Estates Limited, accusing the developer of fraud and non-completion of two projects. The protesters, mostly senior citizens, gathered outside the developer's office demanding refunds for their investments in Prism Portico and Prism Suites. Despite multiple complaints to authorities, including the police, no action has been taken. The projects, launched in 2008 and 2011 respectively, have faced significant delays, leaving investors frustrated. The lack of response from Ninaniya Estates Limited and the absence of RERA registration for the projects have further fueled the investors' anger. Justice and accountability are being demanded by the aggrieved investors.Read more

28 Jun 2023

Approximately 20 residents were forced to evacuate a five-storey building in DLF 3, Haryana, after it started tilting, potentially due to nearby excavation work. The building's owner received a notice for unauthorized construction, while the owner of the adjacent plot was called upon for excavation without professional oversight. The tilted building is currently supported by cranes. Violations of building codes and illegal construction have been a recurring issue in the area, leading to concerns about safety and strain on civic infrastructure. Authorities are taking action and urging strict enforcement of regulations to prevent future violations and protect residents.Read more